South Koreans streamed 169 billion minutes of online video in Q2 2021, according to Media Partners Asia (MPA). The SVOD online video market reached 10 million cumulative subscribers within the same period with Netflix, Wavve and TVing commanding an aggregate 80% share. With a projected market volume of US$870 million by 2025, South Korea has become one of the key beachheads for expansion in Asia and beyond.
More competition and category expansion is also on its way in this fast evolving streaming market, with the recent launch of Disney+ in 2021 and Paramount+ in 2022, joining other global and local players including YouTube, Watcha Play, Afreeca TV, Naver TV, Kakao TV, U+ Mobile TV, Seezn and Coupang Play.
With the worldwide reception and rising demand for Korean content, Korea in View 2022 will look at how the tides are changing for the market as more players enter the field and how one can best scale their streaming business as competition heats up.
